Posted on 08/09/2013 5:09:18 AM PDT by thackney
From the start of 2007 through the end of 2012, total U.S. private sector employment increased by more than one million jobs, about 1%. Over the same period, the oil and natural gas industry increased by more than 162,000 jobs, a 40% increase.
The Labor Department's Bureau of Labor Statistics (BLS) accounts for oil and natural gas industry employment in three categories: drilling, extraction, and support. Drilling involves any employment related to the spudding and drilling of wells, as well as reworking of wells, and accounted for more than 90,000 jobs by the end of 2012, an increase of 6,600 jobs since 2007.
Extraction includes establishments primarily engaged in operating, developing, and producing oil and natural gas fields, including exploration and all production work up to the point of shipment from the producing property. Employment in the extraction category numbered more than 193,000 jobs by the end of 2012, 53,000 more jobs than in 2007.
Support involves performing supporting activities for oil and natural gas operations, including exploration, excavation, well surveying, casing work, and well construction. Support is the largest oil and gas industry category, and employed more than 286,000 people by the end of 2012, up more than 102,000 jobs from 2007. (BLS considers support to be for the above activities, and does not include jobs created in other industries such as manufacturing, housing, retail, education, and food services.)
About half of the workers employed in crude oil and natural gas production are in the support category of oil and natural gas industry employment, and employment in this category accounted for the bulk of the increases seen in oil and gas industry employment. Combined, the three industry categories equal just one-half of one percent of total U.S. private sector employment.
Both the support and drilling industries were heavily affected by the recession, but these industries have recovered quickly, suffering only minor effects from the temporary moratorium on offshore drilling as a result of the Deepwater Horizon spill in 2010. Between January 2007 and December 2012, monthly crude oil production increased by 39%, and monthly natural gas production increased by 25% (see chart below). Employment in the oil and gas drilling, extraction, and support industries continues to contribute to overall private sector employment as the U.S. economy recovers from the 2007-09 recession.
Beyond within-sector employment, oil and gas industry activity also directly supports output and employment in other domestic sectors, such as suppliers of pipe, drilling equipment, and other drilling materials. In addition, as with other forms of economic activity, there are indirect employment effects stemming from purchases made by industry and employees spending of their incomes. Because employee expenditures are closely tied to their incomes, higher paying jobs, such as those in the oil and gas sector, tend to have larger indirect effects on output and employment than lower paying ones. A recent TIE article reviews the experience of North Dakota, which has seen significant gains in real gross domestic product per capita, coinciding with the development of the Bakken shale play.
Quick, Solyndra, someone! Help!
And those new refineries coming on line!
http://darkroom.baltimoresun.com/2013/08/north-dakotas-oil-boom/#1
http://www.siteselection.com/theEnergyReport/2013/feb/philly-refineries.cfm
One thing is certain: Obama will either try to take credit for the boom, or try to shut the industry down (he has done both so far--it just depends on where you are).
The East coast refineries are not new. They were old ones poorly maintained and not updated to stay economic that were going to close. As you can tell from the selling prices, they had little value. It was becoming cheaper to bring fuel in from other more updated refineries farther away. Some investment dollars by others have kept them going.
Very True. As I work 50~60 hours a week, I hire more services done that before I would do myself. We go out to eat more and tend to purchase more.
Add to that people brought into a higher paying job, and folks hire that were not working before and there is a lot of spin-off work not counted.
I left the oil patch in the 80s, back now...Life is good thanks to frackin’
The problem in the oil company I work for is that Americans to do this type of work are scarce.
Well over 50% of the professionals we hire(6 figure salaries) are non-citizens
Its past time for odumbo to be on permanent vacation. When that happens you will see this nation come “alive” once again. Odumbo is blight on the U.S.
I have 2 problems getting a job in the oil industry.
I have no previous oil industry experience even though my 25 years of IT experience in the telecommunications industry and 15 years in IT in manufacturing could be easily transportable I would think. I guess not. The other problem is I’m now 60 years old. I have applied for many many oil industry IT jobs in the past 8 years to no avail.
There is a niche for that in the oil/gas industry, but it is a small niche with a lot of folks trying to get in it.
Im curious, as I have worked for one of the majors as a professional for 34 years. I started in the 1970’s as a field geologist in uranium, have held positions in upper level data menagement, and have worked the last 10 years in a Geodetics & Cartography group. I have amassed a great deal of technical experience with mapping programs like ArcGIS.
The division I work for has become increasingly bureaucratic and inefficient over the years, to the point I have considered taking my experience and retirement benefits in a year or two and seeing if the grass is greener elsewhere. Like fulltlt I will be approaching 60, but still have a good 5 or 10 years left in me.
Do you think the age thing would outweigh the knowledge and experience? (depending on your answer, I might have to send you a resume!)
I'm shocked, just shocked I tell you.
Many of these confuse risk management with risk avoidance and it peculates throughout the entire business.
I left the bloated oversized companies recently and returned to very small company doing work for smaller oil/gas type companies. It was so refreshing to have the roadblocks removed and given authority over my own work with significant responsibility.
Sounds like you have been there and done that, thackney. I hope to duplicate your experience. I figure I should be able to, as long as the petroleum industry keeps booming (I predict a significant upsurge once the Obama Administration is gone).
My theory is age plays a major factor in hiring these days.
When the government can stipulate a requirement for certain jobs that you have to be under 35 to apply I think private industry secretly follows suit. Thackney disagrees with me on this but it is what I have found to be emperically true in my case.
This is why, if I head back to the states, I will head to West Texas... go where the oil (jobs) is..
I am not trying to say that doesn't happen, or doesn't happen at most place.
But it has not been my experience. I work in consulting/design/construction engineering and design for the oil/gas/petrochem. Knowledge and experience count for a huge amount; mistakes are hugely expensive.
Good Judgement comes from Experience.
Experience comes from Bad Judgement.
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